TrueCar Inc. has invested in a 20 percent stake of Accu-Trade, allowing the partnership to continue working toward its vision of creating an end-to-end shopping-to-showroom car-buying experience.
"The TrueCar Trade platform, powered by Accu-Trade, is designed to serve as a modern tool for consumers and a cost-effective vehicle acquisition engine for dealers," President and CEO Chip Perry said. "TrueCar Trade's user-friendly design and transparent, real-time valuations enable dealers to build greater trust with consumers who want strong third-party validation of the trade-in value of their car."
Accu-Trade President Bob Hollenshead said that from the sofa to the showroom floor, both dealers and their customers using Accu-Trade experience a seamless process.
"Our VIN-specific product enables, encourages and requires rational value validation," Hollenshead said. "More than a book, it provides a skin-in-the-game checkbook, because appraisals are backed by a guarantee."
He noted that in addition to the user-friendly consumer interface, when a dealer provides a VIN through the TrueCar Trade product, substantial value is provided, including full retail market data, days' supply, local and national pricing, and the VIN specific "melt rate."
"Profit compression is on the tip of everyone's tongue," Hollenshead said. "The Accu-Trade process and unique data set mitigate the never-addressed but frequently-encountered truth about used car operations: needlessly overtrading units further exacerbates profit compression."
Call 877-313-6673, email firstname.lastname@example.org or visit www.truecartrade.com/dealer to get more information on the TrueCarTrade product.